FIL Ltd Sells 325,598 Shares of Adagene Inc. (NASDAQ:ADAG)

FIL Ltd cut its holdings in Adagene Inc. (NASDAQ:ADAG) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,274,798 shares of the company’s stock after selling 325,598 shares during the quarter. FIL Ltd owned about 0.07% of Adagene worth $6,386,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Catalina Capital Group LLC raised its position in Adagene by 129.2% in the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after purchasing an additional 16,461 shares during the last quarter. Mill Creek Capital Advisors LLC increased its stake in shares of Adagene by 119.6% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company’s stock valued at $397,000 after buying an additional 108,702 shares during the period. Exome Asset Management LLC raised its position in shares of Adagene by 74.1% during the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock worth $583,000 after acquiring an additional 111,749 shares during the last quarter. Finally, General Atlantic L.P. lifted its stake in shares of Adagene by 1,349.2% during the fourth quarter. General Atlantic L.P. now owns 3,825,952 shares of the company’s stock valued at $7,614,000 after acquiring an additional 3,561,952 shares during the period. 9.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ADAG. Morgan Stanley cut shares of Adagene from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 31st. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Adagene in a report on Thursday, April 3rd.

Adagene Stock Up 3.4 %

NASDAQ:ADAG opened at $1.53 on Friday. Adagene Inc. has a twelve month low of $1.33 and a twelve month high of $3.58. The business has a 50 day moving average price of $1.79 and a two-hundred day moving average price of $2.08.

About Adagene

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.